The IMF warned on trade. International Monetary Fund Managing Director Christine Lagarde said on Wednesday the institution would lower its 2016 US growth forecast again and called policies that restrict trade "economic malpractice" that would choke off growth.

Pimco said assets are expensive. Pacific Investment Management Co, which oversees more than $1.5 trillion in assets, slightly upgraded its forecast for world gross domestic product but cautioned that many asset classes appeared overvalued.